1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

USD/CHF off highs, back below 1.0100

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    FXStreet (Edinburgh) - The upside momentum of the greenback remains intact vs. its Swiss peer, with USD/CHF hovering over 1.0090 after surpassing 1.010 in earlier in the session.

    USD/CHF focus on ADP

    The pair has been advancing since Monday backed by a solid resurgence of the demand for the US dollar and the global context tilted to the risk aversion. Absent significant releases in Switzerland, the pair’s price action will mostly hinge on the USD, as the ADP Employment report, Trade Balance and Factory Orders are due later in the NA session.

    In addition, the FOMC minutes will release its minutes of the December meeting, where the Committee has decided to hike rates by 25 bp after almost a decade of exceptionally low rates.

    USD/CHF key levels

    As of writing the pair is up 0.06% at 1.0095 facing the next up barrier at 1.0131 (high Jan.5) followed by 1.0335 (high Nov.27) and finally 1.0400 (psychological level). On the other hand, a breach of 0.9996 (55-day sma) would expose 0.9819 (5-month uptrend) and then 0.9666 (200-day sma).
    For more information, read our latest forex news.
     

Share This Page